Harvest Portfolios Group Inc. Trims Position in Bristol Myers Squibb Company $BMY

Harvest Portfolios Group Inc. lessened its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,312,860 shares of the biopharmaceutical company’s stock after selling 14,600 shares during the period. Bristol Myers Squibb accounts for approximately 1.2% of Harvest Portfolios Group Inc.’s portfolio, making the stock its 18th biggest position. Harvest Portfolios Group Inc.’s holdings in Bristol Myers Squibb were worth $70,816,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Man Group plc boosted its position in shares of Bristol Myers Squibb by 280.4% during the 2nd quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock worth $345,594,000 after purchasing an additional 5,503,391 shares during the period. Two Sigma Investments LP boosted its position in shares of Bristol Myers Squibb by 530.6% during the 3rd quarter. Two Sigma Investments LP now owns 5,453,357 shares of the biopharmaceutical company’s stock worth $245,946,000 after purchasing an additional 4,588,601 shares during the period. Van ECK Associates Corp boosted its position in shares of Bristol Myers Squibb by 67.8% during the 3rd quarter. Van ECK Associates Corp now owns 9,859,915 shares of the biopharmaceutical company’s stock worth $444,682,000 after purchasing an additional 3,982,439 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Bristol Myers Squibb by 31.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 14,833,977 shares of the biopharmaceutical company’s stock worth $669,012,000 after purchasing an additional 3,522,696 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Bristol Myers Squibb by 56.0% in the third quarter. AQR Capital Management LLC now owns 9,463,981 shares of the biopharmaceutical company’s stock valued at $426,352,000 after buying an additional 3,396,041 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BMY shares. Cantor Fitzgerald lifted their price objective on Bristol Myers Squibb from $45.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research note on Friday, May 1st. Morgan Stanley reaffirmed an “underweight” rating and set a $40.00 target price on shares of Bristol Myers Squibb in a research note on Friday, February 6th. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a research note on Monday, February 23rd. Finally, Guggenheim reaffirmed a “buy” rating and set a $72.00 target price on shares of Bristol Myers Squibb in a research note on Wednesday, April 8th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Bristol Myers Squibb has a consensus rating of “Hold” and an average price target of $61.31.

Insider Activity

In other news, EVP David V. Elkins sold 30,000 shares of Bristol Myers Squibb stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $61.67, for a total transaction of $1,850,100.00. Following the completion of the sale, the executive vice president directly owned 159,248 shares of the company’s stock, valued at approximately $9,820,824.16. The trade was a 15.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.05% of the company’s stock.

Bristol Myers Squibb Price Performance

BMY stock opened at $58.24 on Wednesday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.42 and a quick ratio of 1.28. The firm has a market capitalization of $118.92 billion, a P/E ratio of 16.36, a P/E/G ratio of 0.16 and a beta of 0.26. The business’s 50-day moving average is $58.53 and its two-hundred day moving average is $55.64. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $62.89.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.16. The company had revenue of $11.49 billion for the quarter, compared to analyst estimates of $10.93 billion. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.Bristol Myers Squibb’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.80 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. Analysts anticipate that Bristol Myers Squibb Company will post 6.31 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Thursday, April 2nd were given a $0.63 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 4.3%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 70.79%.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late?stage pipeline reflect a strong emphasis on cancer and immune?mediated conditions.